How to make ' not so cool ' place cooler!!

BANKS!! a place we go only if we have work or need answers to certain issues. Infact with the introduction of online banking and other mobile services it has become even less important to visit our bank branch.
How about a little innovation in retail experience of banks....to jazz them up a bit and make them a place people want to visit more often and want to go to for other things than just banking.

http://www.banktech.com/channels/focus-on-innovation-umpqua-bank-views-in/222600986

Some of the innovation strategies that i personally would like to see in banks:

A cafeteria!!- All of us would love to sit and read or do our personal work in a nice cozy place with a hot cup of coffee.

A display of products that we like to touch, see, pick up, read about - Rather than boring long documents to read, it is more engaging to have all the products of the bank such as car loans, personal loans etc. in tangible product format, something that can be taken home and seen.

Technology and fun - A wall full of ipads showcasing various services and products offered by the bank.

Fun props and installations that change with seasons or festivals...so the bank doesn't feel very static!!

Something for everyone who visits the branch.

A retail display closer to reality....for some people!

The retail world is open to all..then why only make mannequins look non-realistic and perfectly designed?
A beautiful video on how handicapped people were measured to create mannequins that resembled them.
Watch the video at http://www.upworthy.com/i-bet-these-people-never-expected-to-be-models-but-the-results-are-so-gorgeous-2?g=7&c=ufb1

Another idea that sprung up while i was watching this video was that the way people have special stores for over sized people why not come up with special dedicated stores for handicapped people or people with some kind of disability. Coming to special spaces for them where they could experience the brand and its products, socialize with other people with similar thoughts and ideas. Also a place to become a little more in touch with life for all of us and enjoy all as one in a wonderful retail experience.

Online vs In-store Shopping

Hi,
I have been researching on the current trends in shopping and came to the conclusion that these days the percentage of online shoppers is increasing tremendously.
This lead me to write a hypothesis of my own on understanding and finding out certain generic principles and corner stones that would differentiate online shopping from in-store shopping.

My research: I considered 4 kinds of retail experiences that a shopper could have inside a store and listed out the principles for those. Based on analysis of these principles I developed generic principles that could be used for future retail concepts to differential in-store shopping experience from online shopping experience.
These were as follows:

 

 

The principles

1. The retail experience should revolve around the activities of interest of the target audience. It should enhance the leisure experience of the customers.

2. Retail activities should promote family experience and interaction with friends. It should help people spend more time with their families and friends.

3. The retail stores should organize events at regular intervals, which could be for invited guests only or open to all. These events will help people plan their outings and would make them visit the stores rather than buying stuff online.

4. The stores should aim at social interaction between the customers, so people get a chance to meet others and exchange thoughts and ideas. This is something that is not possible online.

5. The stores could provide a kind of special advice service that is available for the audience only in the store. This would motivate them to visit the store for personal advice that would add value to their lives.

6. Retail could be taken out of stores to places where the target audience is, and where they go for leisure or for fulfilling some need in their lives. This would help them engage with the brand in places the brand is needed the most.

7. Personal shopping experience could be set up for customers who could take prior appointments from the stores. During these sessions the customer could get a chance to get advice and guidance right through his shopping experience. The brand could also help the customer add value to his life by either re- designing and styling his wardrobe, helping him furnish the interiors of his house or finding the perfect present for someone special.

8. The customer should have a say in the brand, stores and products and should be allowed to give his inputs if he wishes to which should be taken into account while designing further retail experiences.

3 Corner stones that in store experience should be based on:

Social Interaction 

Value Addition 

Leisure Enhancement

Why do people shop?

Here is a little research on the psychology of shoppers.

How are men different from women?

Understanding the psychologies of men and women while designing a retail store!

How will the principles for retail change in the future?

These are some of the principles that i came up with, after researching on Apple, Ikea and some other brands and their respective retail strategies which have made them superior to the others in the market. These principles according to me will cater to the need of the changing phenomena of shopping with the increase of online shopping.

Principles (Subject to change):

1. A Place to socialize: The store should be a place where customers can just hang out, have a fantastic experience, browse machines, talk to people and sales associates. A place where people wander around with a coffee in their hands, spending leisure time with their kids, getting fantastic service and having a little chat with the staff who they know very well. We could look more in terms of the collaboration of shopping centres, high streets with theatres, museums, galleries etc.

2. Value creation for customers: There has to be a shift from ‘How do we sell more stuff,’ to value creation. The store has to help people enrich their lives; it has to add value beyond simply providing merchandise. 

3. Integration between virtual and physical: There should be integration between the virtual and the physical experience. The retail strategy should aim to have an interaction between mobile, Internet and in-store experience in a way that creates value.

4. Intuition Oriented: While planning the retail strategy it is very important to trust your intuition much more than data. If everyone flowed the data, they would all land up in the same place. These days department stores are redundant because they import the same products, price them the same way. They carry the same percent of private label to National Brands. The people whose primary strength is data analysis drive these.

5. Leadership and Deepening Human Connections: The stores are supposed to lead their customers. They should be able to anticipate the customer’s needs even before he knows what he wants.

6. Innovation: The stores need to be more innovative and creative while forming their retail strategies. They could have a completely different relationship with the city, turning city centres into gardens or playgrounds.

7. Exclusivity of brands and products: This will help to avoid the mind from numbering sameness of a product. When you go to a mall it's the same clothes, the same gadgets, the same books etc. The store should aim to provide an experience which is not available anywhere else- it is exclusive!

8. 'A- Job-to-be-done'- a job that has high priority in peoples lives: There should be a clear formula for positioning the retail operations. 

9. Destination Shopping: The stores should be such that the customers visit the stores just to see the local ‘vibe,‘ even if there is no particular ‘need ‘for something. The questions should be –How can we reinvent the stores to enrich our customer’s lives? In doing this we might just create the space in which we can re-cast and revitalize our shopping centre communities.

10. 'Here today Gone tomorrow'- curiosity oriented: There should be a sense of excitement and urgency in the minds of the customers. Customers should be eager to know what is coming next. The retail strategies should be oriented towards something that nobody can find again. This could be something like a site for a number of pop-up stores that changes every week.

11. Experience the Products or the Brand: The brand or products should be readily available for the customers to experience and use. They should get a chance to experience the brand.

Hi, sorry haven't posted for so many days!

I am writing a book for retail display. The title of my book is going to be "Step- by- Step Guide for Retail Display Design" As the name suggests it is going to be book dedicated to those people who are interested in learning how to design retail displays. 

This book is targeting people who have an idea about branding and now want to further specialize in retail design display. My book will teach the entire process of designing a display right from the initial creative thinking strategies to the final production and presentation for the client.

I will be giving my special "tips and techniques" in the middle of the process to make it easier for my audience to follow and come up with amazing displays! This book is also a showcase for my knowledge, ideas and work. It will act as a portfolio and also an instructional piece for others to learn from.

There are some images of my initial developmental work and the major contents, will be posting updates as I write more.